Kathimerini English - - Focus -

TANAP gets signed.

Turk­menistan has signed an out­line deal with Turkey to sup­ply gas to a new pipe­line that could help Europe re­duce its de­pen­dence on Rus­sian gas im­ports. The two coun­tries struck a so-called frame­work agree­ment yes­ter­day for Turk­menistan, which is keen to di­ver­sify ex­ports of its gas to world mar­kets, to sup­ply gas to the pro­posed Trans-Ana­to­lian nat­u­ral gas pipe­line project (TANAP). The pipe­line will be built from the Turk­ish-Ge­or­gian bor­der to Turkey’s fron­tier with Bul­garia and Greece.

350 mil­lion euros. That hap­pened dur­ing a meet­ing in Brussels on Thurs­day. In Septem­ber, the eu­ro­zone na­tions re­fused to re­lease the cash, say­ing Cyprus may have run afoul of the terms of its 10-bil­lion-euro res­cue pack­age when Par­lia­ment weak­ened a fore­clo­sures law that was deemed cru­cial for banks to deal with many bad loans. The hur­dle was over­come after law­mak­ers amended some laws, while the Supreme Court struck down oth­ers as un­con­sti­tu­tional. Fi­nance Min­is­ter Har­ris Ge­or­giades said on Thurs­day that it is es­sen­tial to avoid “un­nec­es­sary ac­tions” that could hob­ble the Cypriot econ­omy’s ef­forts to re­turn to growth.

Prop­erty prices in Cyprus de­clined by up to 9.6 per­cent on an an­nual ba­sis in the third quar­ter, sur­vey­ors said on Thurs­day, with de­mand sapped by a lack of bank credit and high un­em­ploy­ment. On an an­nual ba­sis, ask­ing prices for re­tail space at the end of Septem­ber fell by 9.6 per­cent, while for apart­ments they dropped 6.3 per­cent and for homes 4.4 per­cent, an in­dex com­piled by the Cyprus branch of the Royal In­sti­tu­tion of Char­tered Sur­vey­ors (RICS) showed.

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